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Changing the name of your house could boost its value by up to 40 per cent, experts claim

Changing the name of your house could boost its value by up to 40 per cent – while a royal moniker can add thousands, experts claim

  • London-based estate agent Wetherell claims desirable name can boost value
  • Claim picking the right moniker can add 40 per cent to a property’s value
  • Also warn choosing wrong name can wipe 20 per cent off the price of your home
  • Online property site On the Market says royal name can add thousands to value   

If you’re looking to boost the value of your property, it could be a lot easier than forking out thousands on an extension.

Simply giving your home a name could potentially see you laughing all the way to the bank, according to estate agents. 

Experts at London Mayfair-based Wetherell claim adding a desirable moniker to your property could up its value by as much as 40 per cent.

Though you must choose carefully, as they warned the wrong name could see its worth nosedive by 20 per cent, reports The Times’ Bricks & Mortar. 

Simply giving your home a name could potentially see you laughing all the way to the bank, according to estate agents. Pictured: stock image

A way to avoid this is picking a royal moniker, as this can boost its price by thousands of pounds, according to online property site On the Market.

The choice of name is all important, according to Location, Location, Location host Phil Spencer, founder of advice website Move iQ.

He told the publication: ‘Regal-sounding names such as Crown Cottage are often popular with buyers and tend to command the biggest premiums.

‘Alternatively pastoral names, such as Harvest Cottage or Owl Corner, are perennially desirable.’

Experts at London Mayfair-based Wetherell claim adding a desirable moniker to your property could up its value by 40 per cent. Pictured: stock image

Experts at London Mayfair-based Wetherell claim adding a desirable moniker to your property could up its value by 40 per cent. Pictured: stock image

He added that choosing your house name should be about adding personal value as well as monetary, and recommends going for one that means something to you.

Though naming a house something too personal, such as a surname, can make it more difficult to sell, as the moniker may deter the next buyer if it’s tricky to make a connection with.

It is also advisable to avoid anything too ostentatious, as councils may reject it if it’s overly grand, according to Caroline Edwards from the estate agent Carter Jonas. 

It costs between £50 and £150 to change the name of your house – and if you intend to do it, Phil advises getting on with it as soon as you move in, as this is the time at which you usually let people know of the change to your address. 

The choice of name is all important according to Location, Location, Location host and founder of advice website Move iQ Phil Spencer, pictured

The choice of name is all important according to Location, Location, Location host and founder of advice website Move iQ Phil Spencer, pictured

How to change the name of your house

In the UK, if your house already has a name but not a number, you’ll need to get permission from the local authority to make changes to it. 

If it doesn’t currently have a name but does have a number, you’re at liberty to display a name on the front of it, but it can’t hurt to run it by the local authority first to make sure.

In order to avoid confusion, you must choose a name that’s different to others in the area.

After you receive approval from the council, you’ll then need to notfiy HM Land Registry via an AP1 form.

It’s also a good idea to tell anyone that sends you post to avoid it going missing.

You can update your address on the Royal Mail website, but the Highways Department will inform them about an approved name change.

 

Read more at DailyMail.co.uk


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